23,278 Shares in Cleveland-Cliffs Inc (CLF) Purchased by HRT Financial LLC
HRT Financial LLC bought a new position in Cleveland-Cliffs Inc (NYSE:CLF) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 23,278 shares of the mining company’s stock, valued at approximately $196,000.
Other large investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its position in Cleveland-Cliffs by 1,248.2% in the second quarter. Tower Research Capital LLC TRC now owns 11,999 shares of the mining company’s stock worth $101,000 after buying an additional 11,109 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Cleveland-Cliffs in the second quarter worth $131,000. Baird Financial Group Inc. boosted its holdings in shares of Cleveland-Cliffs by 67.3% in the second quarter. Baird Financial Group Inc. now owns 18,643 shares of the mining company’s stock worth $157,000 after acquiring an additional 7,500 shares during the period. Moors & Cabot Inc. boosted its holdings in shares of Cleveland-Cliffs by 74.9% in the first quarter. Moors & Cabot Inc. now owns 18,795 shares of the mining company’s stock worth $131,000 after acquiring an additional 8,050 shares during the period. Finally, CIBC World Markets Inc. boosted its holdings in shares of Cleveland-Cliffs by 33.5% in the second quarter. CIBC World Markets Inc. now owns 20,160 shares of the mining company’s stock worth $170,000 after acquiring an additional 5,060 shares during the period. 67.57% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on CLF shares. Citigroup started coverage on Cleveland-Cliffs in a report on Wednesday, June 6th. They issued a “buy” rating and a $11.00 price target for the company. Jefferies Financial Group raised Cleveland-Cliffs to a “buy” rating and set a $13.00 price target for the company in a report on Friday, September 7th. Zacks Investment Research lowered Cleveland-Cliffs from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 6th. B. Riley raised their price target on Cleveland-Cliffs from $12.00 to $13.00 and gave the stock a “$10.88” rating in a report on Monday, July 23rd. Finally, ValuEngine lowered Cleveland-Cliffs from a “hold” rating to a “sell” rating in a report on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. Cleveland-Cliffs has a consensus rating of “Buy” and an average target price of $10.80.
Cleveland-Cliffs (NYSE:CLF) last posted its quarterly earnings data on Friday, July 20th. The mining company reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.20. The company had revenue of $714.00 million during the quarter, compared to analyst estimates of $653.75 million. Cleveland-Cliffs had a negative return on equity of 76.39% and a net margin of 20.07%. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share. equities research analysts anticipate that Cleveland-Cliffs Inc will post 2.06 EPS for the current year.
Cleveland-Cliffs Inc operates as an iron ore mining company in the United States. The company operates four iron ore mines in Michigan and Minnesota; and Koolyanobbing iron ore mining complex located in Western Australia. It sells its products to integrated steel companies and steel producers in the United States and the Asia Pacific.
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